Bloomberg Oil held steady just days before many of the world’s largest producer nations meet to discuss how much crude they should supply in the coming months. Crude futures in New York were trading near $61 a barrel. Opec and its allies will meet on Thursday to decide if they will ease supply curbs further after Saudi cuts pushed the …
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KHARTOUM / WAM Mariam Assadiq Al Mahdi, Sudanese Minister of Foreign Affairs, lauded the cooperation between the UAE and Sudan, stressing her country’s keenness to reinforce its relations with the UAE and other Gulf Cooperation Council countries. She made this statement during her meeting with a delegation from the Al Maktoum Foundation, led by Mirza Al Sayegh, Director of the …
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Bloomberg Oil rebounded from its biggest slump since November ahead of a key Opec+ meeting that may see some supply returned to a fast-tightening market. Futures in New York rose above $62 a barrel. The alliance gathers on Thursday and is expected to loosen the taps after prices got off to their best ever start to a year. But it’s …
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Bloomberg From trading houses in Geneva to Wall Street banks, much of the oil world agrees that global markets could use some more barrels. The big question is whether Opec+ will provide enough of them. A crude glut that piled up during the pandemic is vanishing fast. Global inventories are plunging at the steepest rate in two decades, according to …
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Bloomberg The decline of Angola, from being Africa’s top crude producer five years ago to barely pumping more than war-torn Libya, shows the heavy toll of a slump in oil-industry investment. The nation’s production has fallen by more than a third since 2015, when international oil companies started slashing investment in response to a plunge in crude prices. Despite government …
Read More »RIYADH / WAM The Coalition to Restore Legitimacy in Yemen intercepted and destroyed of Bomb-Laden UAV launched by terrorist, Houthi Militia towards Khamis Mushait, Kingdom of Saudi Arabia, reported the SPA. The Official Spokesman of the Coalition to Restore Legitimacy in Yemen Brigadier General Turki Al-Malki, said, “Joint Coalition Forces have intercepted and destroyed a bomb-laden UAV launched systematically and …
Read More »ABU DHABI / WAM The UAE has strongly condemned the cowardly attack that targeted a convoy of the UN World Food Programme (WFP) near Goma, the capital of the North Kivu province in the Democratic Republic of the Congo (DRC). The Italian ambassador to the DRC and two other people were killed during the attack. The Ministry of Foreign Affairs …
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Bloomberg Oil rose near $62 a barrel with investment banks and traders predicting the market’s rally can go further. Futures in New York gained 0.8% on Tuesday and are up almost 30% so far this year. The market is heading towards what could be the tightest quarter since at least 2000, according to Morgan Stanley, while Socar Trading SA sees …
Read More »KUWAIT / WAM Official delegations representing the United Arab Emirates and the State of Qatar met in the brotherly State of Kuwait on Monday in the first meeting between the two sides to follow up on the Al-Ula Declaration. The two sides discussed joint mechanisms and procedures to implement the Al-Ula Declaration and underscored the importance of preserving Gulf unity, …
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BAHRAIN / WAM Investcorp, a Bahrain-based asset manager that counts Mubadala Investment Company as its biggest shareholder, on Monday announced that one of its affiliates has acquired a majority ownership position in KSM Consulting, a leading consulting firm specialising in data analytics, technology and digital transformation, from Renovus Capital Partners, which will continue to maintain a minority stake in KSMC. …
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